So apparently Lyft is the largest bikeshare operator in North America. They operate around 68,000 bikes and scooters, which equaled some 52 million rides last year. Ridership also continues to grow. Since 2020, ridership has grown in cities like New York (+56%), Chicago (+79%), Boston (82%), and Denver (+170%).

However, this part of Lyft's business was in the news this week because the company announced that they are entertaining proposals to sell it, as well as "strategic partnerships." The company has said that it remains committed to offering bikes through the Lyft app, but clearly it is trying to shore up its balance sheet.

This raises some interesting questions. Can bikeshare be a profitable and sustainable for-profit business? Or do we now need to be thinking of it as an important public service that is deserving of subsidies -- similar to how public transit and cars/roads work in most cities? My own view is that these networks are here to stay regardless of how profitable or unprofitable they might be.

For additional stats on Lyft's bikeshare business, click here. One of the figures that I found interesting, but not surprising, was that 71% of riders use bikeshare for "fun." This is by far the most popular use case. The next most popular use is "errands" at 39%.

Consider the following stat: 65% of all transit trips across the US in 2019 came from just 6 metro areas: New York, Boston, Chicago, San Francisco, Washington, DC, and Philadelphia. Not surprisingly, these are all places with dense and walkable urban centers. In other words, they have built environments that are conducive to the use of public transportation.

While we know that more people working from home has been bad for transit and that agencies across the world are facing deep holes in their budget, I continue to come back to two things. One, we have not yet reached a post-pandemic equilibrium. We are still making our way back to the office. And two, the single most important thing when it comes to transit ridership is land use.

If we want more people to take transit, then we need to build our cities accordingly. That means streets people actually want to walk on, and a lot more density.

Almost 70% of commutes in New York City are done by walking, biking or taking transit. That’s the highest of any American city according to Atlantic Cities:

Probably the biggest driver of this is urban density. That’s because walking, biking and taking transit becomes impractical when you live in a sprawling city. If you want to get people out of their cars, pay attention to the urban fabric of your city.

As someone who used to drive to work (out of necessity), but now relies predominately on public transit, I see one of the big advantages as time. If you’re like me, you probably feel time poor. Taking transit gives me a block of time in which to respond to emails, catch up on reading and generally just think.

In fact, this blog post was written on the subway.